Datafile Software Purchase Ledger CIS On Line Verification and Filing

From April 2007 the contractors CIS300 applies to all companies who employ building contractors.

The Main Changes

CIS Cards and Certificates will no longer be used. Contractors are verified on-line with the HMRC.

There is now a higher rate of deductions for sub contractors who cannot be verified with the HMRC. This higher rate is currently 30%.

Vouchers and Year End Returns will no longer be required. These have been replaced with a monthly on-line return.

Failure to submit the CIS300 monthly return on time can result in penalty charges.

Benefits

• Remain Compliant
• Avoid late return penalties
• Quickly validate new contractors
• HMRC set tax treatment rates

Features

• Online verification
• Statements to Contractors
• Online Month End Submissions
• Deduct payments within purchase ledger transactions
• Three rates of payment deductions

Datafile Modules Required

• Datafile Purchase Ledger Subcontractors Module
• Datafile Purchase Ledger Subcontractors Submissions Module

For more information on Datafile Software, its range of solutions or to enquire about the CIS Modules, please telephone 0845 643 2766 or send an email to office@datafile.co.uk or simply use our Online Enquiry Form and we will get back to you.

Links

http://www.hmrc.gov.uk/ebu/cis-online.htm

2007 CIS300 Monthly returns and Verification Recognition Letter